Apple to open new flagship stores with focus on India, China and South Korea
Apple expansion in Indo-Pacific
Apple is planning to expand its retail chain with a focus on top Asian economies. The iPhone maker will also revamp its established store chains in the United States and Europe in the immediate future.
In the next four years, Apple Inc. is deliberating to open 15 new stores across the Asia Pacific region, Bloomberg reported, citing people familiar with the matter.
Apple also teased plans to open new stores at five locations in West Asia and Europe. The company is also aiming for six revamped or relocated stores in Asia, nine in Europe and 13 in North America, the Bloomberg report added.
Apple retail stores overhaul: The big number
In the course of the next four years, Apple will supposedly have 53 new, relocated or remodelled stores as part of its expansion strategy.
Apple retail stores: The India factor
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In April, Apple CEO Tim Cook unveiled two flagship stores in Mumbai and New Delhi to huge fanfare.
The company considers India to be a growingmarket and has been focused to elevate the brand's rise in the world's most populous nation.
According to Bloomberg, one of the most notable new flagship Apple stores includes three sites in India.
They are DLF Promenade Mall in New Delhi with a target date of launch in March 2026, and two new retail stores in Mumbai's Borivali and Worli with target launch dates in June 2025 and November 2027, respectively.
Also watch |Apple gets a shot in the arm in India, hits $6bn in sales
Elsewhere, a flagship store is supposed to be unveiled soon at Seoul’s Hongdae and Shanghai's famous Jing'an Temple Plaza with tentative launch dates in December 2023and March 2024 respectively.
Apple retail stores: The current number
The Cupertino, California-based company currently runs over 520 stores in 26 countries all over the world. But there is a proportional disparity as half of them are located just in the United States.
Apple's big bite for retail stores: How does it make sense?
The company gets most of its revenue from streams such as e-commerce sites. But physical locations become key places for customers to buy premium Apple products on their peak heydays of hype, and serve the great aspirational tinge associated with its products, especially in growing economies like India.
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